Bitcoin
tickers down
$61,213
could not hold its recovery this week, signaling that the bears have not given up and are using the rallies to sell. Bitcoin is on track to finish the week with a loss of more than 4%. The longer the price stays closer to $60,000, the greater the possibility of a downside breakdown.
However, analysts remain bullish on the price action in the post-halving cycle. According to Cane Island Alternative Advisors founder and investment manager Timothy Peterson, Bitcoin could soar to anywhere “between $175,000 - $350,000 in the next 9 months.” Peterson cautioned in a X post that “this bull market will end in January 2025.”
